This Week: New home sales, GDP snapshot, consumer spending
2 years, 3 months ago

This Week: New home sales, GDP snapshot, consumer spending

Associated Press  

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The Commerce Department releases its August tally of new U.S. home sales Tuesday. New home sales, seasonally adjusted annual rate, by month: March 707,000 April 619,000 May 630,000 June 585,000 July 511,000 Aug. 495,000 Source: FactSet ECONOMIC SNAPSHOT The Commerce Department delivers its final snapshot of how the U.S. economy fared in the second quarter on Thursday. GDP, seasonally adjusted annual rate, by quarter: Q1 2021: 6.3 Q2 2021: 6.7 Q3 2021: 2.3 Q4 2021: 6.9 Q1 2022: -1.6 Q2 2022 : -0.6 Source: FactSet INFLATION BAROMETER The Commerce Department serves up its latest data on U.S. consumer spending Friday. Consumer spending, monthly percent change, seasonally adjusted: March 1.2 April 0.4 May 0.5 June 1.0 July 0.1 Aug. 0.2 Source: FactSet

Consumer Spending Rate Est New Home Sales  adjusted  consumer  rate  sales  index  seasonally  department  economy  spending  week  annual  2021  est  snapshot  gdp

History of this topic

U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate
3 weeks ago

U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate

Associated Press  

WASHINGTON — The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate. Third-quarter growth in U.S. gross domestic product — the economy’s output of goods and services — accelerated from the April-July rate of 3% and …

5.4%: Q2 GDP growth slowest in seven quarters
1 month, 1 week ago

5.4%: Q2 GDP growth slowest in seven quarters

Hindustan Times  

India’s economy expanded at a lower-than-expected 5.4% in the three months ended September, with sluggish growth in manufacturing and private consumption, a reflection of weak demand because of high borrowing costs, inflation and weak real wage growth. The headline GDP growth number is 1.3 percentage points lower than the June quarter print and the lowest in seven quarters, since the …

Q2 GDP growth falls to 5.4 per cent, lowest in seven quarters
1 month, 1 week ago

Q2 GDP growth falls to 5.4 per cent, lowest in seven quarters

New Indian Express  

The second quarter GDP numbers sprang a negative surprise with real GDP registering a 5.4 per cent growth against 6.7 per cent in the first quarter due to sluggish manufacturing and private consumption. Private final consumption grew at 6 per cent during the quarter, lower than the 7.4 per cent growth recorded during the first quarter. The consumption slowdown was …

US Economy Expands 2.8% In Q3, Driven By Strong Consumer Spending
1 month, 1 week ago

US Economy Expands 2.8% In Q3, Driven By Strong Consumer Spending

ABP News  

The US economy grew at a robust annual rate of 2.8 per cent from July to September, driven by solid consumer spending and a surge in exports, the government reported on Wednesday. Consumer spending, which drives about 70 per cent of US economic activity, accelerated to a 3.5 per cent annual rate in the third quarter, up from 2.8 per …

US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate
Trending News
1 month, 1 week ago

US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate

Associated Press  

WASHINGTON — The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. Still, American voters — exasperated by high prices — were unimpressed by the steady growth and chose this month to return Donald Trump …

U.S. Economy Grew At Healthy 2.8% Pace Last Quarter On Strength Of Consumer Spending
2 months, 1 week ago

U.S. Economy Grew At Healthy 2.8% Pace Last Quarter On Strength Of Consumer Spending

Huff Post  

LOADING ERROR LOADING WASHINGTON — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and services — slowed slightly from its 3% growth rate in …

The U.S. economy is growing solidly. Here's what's working — and what's not
2 months, 1 week ago

The U.S. economy is growing solidly. Here's what's working — and what's not

NPR  

The U.S. economy is growing solidly. Here's what's working — and what's not toggle caption Spencer Platt/Getty Images With just days before Election Day, the U.S. just got its latest economic report card — and it's good, even if many people don't feel that way. toggle caption Anna Rose Layden/Getty Images The healthy labor market and stronger spending bode well …

This Week: Consumer price index, retail sales, housing starts
4 months, 4 weeks ago

This Week: Consumer price index, retail sales, housing starts

Associated Press  

A look at some of the key business events and economic indicators upcoming this week. Economists predict the consumer price index rose 3% in July from as year earlier, matching June’s pace. Consumer price index, annual percent change, not seasonally adjusted: Feb. 3.2 March 3.5 April 3.4 May 3.3 June 3.0 July 3.0 Source: FactSet SIZING UP RETAIL SALES The …

US economic growth increased last quarter to a healthy 2.8% annual rate
5 months, 2 weeks ago

US economic growth increased last quarter to a healthy 2.8% annual rate

Associated Press  

WASHINGTON — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. The central bank’s favored inflation gauge rose at a 2.6% annual rate last quarter, down from 3.4% in the first quarter of the year. the Fed thinks that it’s getting close …

U.S. economic growth increased last quarter to a healthy 2.8% annual rate
5 months, 2 weeks ago

U.S. economic growth increased last quarter to a healthy 2.8% annual rate

LA Times  

Amazon employees in South Gate load packages on carts before putting them on trucks for delivery last week as part of the company’s Prime Day event. The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. The central bank’s favored inflation gauge rose …

US economic growth for last quarter is revised up slightly to a 1.4% annual rate
6 months, 1 week ago

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

Associated Press  

WASHINGTON — The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. The Commerce Department had previously estimated that the gross domestic product — the economy’s total output of goods and services — advanced at a 1.3% rate …

This Week: Existing home sales, retail data for May and Kroger’s first-quarter results
6 months, 3 weeks ago

This Week: Existing home sales, retail data for May and Kroger’s first-quarter results

Associated Press  

A look at some of the key business events and economic indicators upcoming this week: RETAIL RECEIPTS The Commerce Department on Tuesday reports retail sales data for May. Retail sales, monthly percent change, seasonally adjusted: Dec.: 0.4 Jan.: -1.1 Feb.: 0.7 March: 0.7 April: 0.0 May : 0.3 Source: FactSet KROGER RESULTS Grocery chain Kroger reports its first-quarter sales and …

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools
7 months, 1 week ago

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools

Hindustan Times  

The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer and equipment spending and a key measure of inflation ticked down, keeping the Federal Reserve on track to possibly begin cutting interest rates before the end of the year. Details of the report showed that consumer spending growth, revised down by 0.5 …

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending
7 months, 1 week ago

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Commerce Department had previously estimated that the nation’s …

US economic growth in first quarter falls short of expectations at 1.6%; inflation may heat up
8 months, 2 weeks ago

US economic growth in first quarter falls short of expectations at 1.6%; inflation may heat up

Hindustan Times  

The US economy expanded less than projected in the first three months of 2024 as exports and consumer spending declined, confirming the expectations of the financial markets that the Federal Reserve would postpone rate-cutting until September. The first quarter saw the US economy rise by 1.6 percent, according to the government data. The first quarter saw the world's largest economy …

US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates
8 months, 2 weeks ago

US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates

Associated Press  

WASHINGTON — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Gregory Daco, chief economist at the tax and consulting firm EY, noted that the underlying economy looks solid, though it’s slowing from last …

U.S. growth fell sharply to 1.6% last quarter, pressured by high interest rates
8 months, 2 weeks ago

U.S. growth fell sharply to 1.6% last quarter, pressured by high interest rates

LA Times  

Robots assemble solar panels at the Hanwha Qcells Solar plant in Dalton, Ga., in 2023. On Thursday, the government reported that U.S. economic growth slowed sharply last quarter to a 1.6% annual pace. The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic …

US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate
9 months, 1 week ago

US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate

Associated Press  

WASHINGTON — The U.S. economy grew at a solid 3.4% annual pace from October through December, the government said Thursday in an upgrade from its previous estimate. But last quarter’s growth was still a solid performance, coming in the face of higher interest rates and powered by growing consumer spending, exports and business investment in buildings and software. In the …

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government’s initial estimate
10 months, 1 week ago

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government’s initial estimate

Associated Press  

WASHINGTON — The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its initial estimate. U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world’s largest economy into a recession. The …

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government's initial estimate
10 months, 1 week ago

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government's initial estimate

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The U.S. economy grew at …

America’s economy slowed—it probably won’t stumble
10 months, 3 weeks ago

America’s economy slowed—it probably won’t stumble

Live Mint  

The U.S. economy took a breather in January following brisk growth at the end of last year, but it remains fundamentally healthy. Technical issues with how the retail sales data was seasonally adjusted might have weighed on the reading, and cold weather in January likely had an impact on both retail sales and industrial production. Within the retail sales report, …

US economy grew at a surprisingly strong 3.3% pace last quarter, pointing to continued resilience
11 months, 2 weeks ago

US economy grew at a surprisingly strong 3.3% pace last quarter, pointing to continued resilience

Associated Press  

WASHINGTON — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and services — decelerated …

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter
11 months, 2 weeks ago

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter

CBS News  

The nation's economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday's report from the Commerce Department said the gross domestic product — the economy's total output of goods and services — decelerated from its …

This Week: Retail sales, housing starts, home sales
11 months, 3 weeks ago

This Week: Retail sales, housing starts, home sales

Associated Press  

A look at some of the key business events and economic indicators upcoming this week RETAILER CHECKUP The Commerce Department delivers its December snapshot of U.S. retail sales Wednesday. Retail sales, monthly percent change, seasonally adjusted: July 0.6 Aug. 0.7 Sept. 0.8 Oct. -0.2 Nov. 0.3 Dec. 0.4 Source: FactSet TRACKING HOME CONSTRUCTION New government data on residential construction should …

US economic growth for last quarter is revised up to a 5.2% annual rate
1 year, 1 month ago

US economic growth for last quarter is revised up to a 5.2% annual rate

Associated Press  

WASHINGTON — Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. Consumer spending, the lifeblood of the economy, rose at a 3.6% annual rate from July through September — still healthy but a downgrade …

US economic growth for last quarter is revised up to a 5.2% annual rate
1 year, 1 month ago

US economic growth for last quarter is revised up to a 5.2% annual rate

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shrugging off higher interest rates, …

US government estimates economy grew last quarter at a 2.1% rate, unchanged from previous projection
1 year, 3 months ago

US government estimates economy grew last quarter at a 2.1% rate, unchanged from previous projection

Associated Press  

WASHINGTON — The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged. The second-quarter expansion of the nation’s gross domestic product — its total output of goods and services — marked a modest deceleration from the economy’s …

US economic growth for last quarter is revised down to a 2.1% annual rate
1 year, 4 months ago

US economic growth for last quarter is revised down to a 2.1% annual rate

Associated Press  

WASHINGTON — The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate. The Commerce Department’s second estimate of growth last quarter marked a slight acceleration from a 2% annual growth rate from …

U.S. economic growth for last quarter is revised down to a 2.1% annual rate
1 year, 4 months ago

U.S. economic growth for last quarter is revised down to a 2.1% annual rate

LA Times  

A worker prepares materials and construction parts at the Boeing Interiors Responsibility Center in North Charleston, S.C., on May 31. The Commerce Department’s second estimate of growth last quarter marked a slight acceleration from a 2% annual growth rate from January through March. Though the economy has been slowed by the Federal Reserve’s strenuous drive to tame inflation with interest …

US economy unexpectedly accelerated to a 2.4% growth rate in April-June quarter despite Fed hikes
1 year, 5 months ago

US economy unexpectedly accelerated to a 2.4% growth rate in April-June quarter despite Fed hikes

Associated Press  

WASHINGTON — The U.S. economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s 16-month-long fight to bring down inflation. Consumer spending, the heart of the nation’s economy, was also solid last quarter, though it slowed to a 1.6% annual rate …

The US economy grew stronger than expected in the second quarter, but consumers are pulling back
1 year, 5 months ago

The US economy grew stronger than expected in the second quarter, but consumers are pulling back

CNN  

Washington CNN — The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the Commerce Department reported Thursday. Consumer spending, which accounts for about two-thirds of economic output, grew at just a 1.6% rate in the second quarter, down sharply from a 4.2% rate in the first three months of the year. “In …

US economy grew faster than expected in Q2
1 year, 5 months ago

US economy grew faster than expected in Q2

Al Jazeera  

The US economy grew faster than expected in the second quarter as labour market resilience supported consumer spending, while businesses boosted investment in equipment, potentially keeping a much-feared recession at bay. The government’s measure of inflation in the economy, the price index for gross domestic purchases, increased at a 1.9 percent rate, slowing from the 3.8 percent pace logged in …

US economic growth last quarter is revised up sharply to a 2% annual rate
1 year, 6 months ago

US economic growth last quarter is revised up sharply to a 2% annual rate

Associated Press  

WASHINGTON — Showing surprising resilience in the face of higher interest rates, the U.S. economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years. Thursday’s revised figure from the Commerce Department sharply upgraded its assessment of first-quarter growth from its previous estimate of a 1.3% annual rate. Despite …

U.S. economic growth last quarter is revised up sharply to a 2% annual rate
1 year, 6 months ago

U.S. economic growth last quarter is revised up sharply to a 2% annual rate

LA Times  

Jeep Gladiator pickup trucks at a dealership in Englewood, Colo. On Thursday, the Commerce Department issued its final estimate of how the U.S. economy performed in the first quarter of 2023. Thursday’s revised figure from the Commerce Department sharply upgraded its assessment of first-quarter growth from its previous estimate of a 1.3% annual rate. Despite the uptick, the government’s third …

US economic growth for last quarter is revised up to a still-tepid 1.3% annual rate
1 year, 7 months ago

US economic growth for last quarter is revised up to a still-tepid 1.3% annual rate

Associated Press  

WASHINGTON — The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday in a slight upgrade from its initial estimate. The steady slowdown in the nation’s economic growth is a consequence of the Federal Reserve’s aggressive drive to tame inflation, with 10 …

US economy slows sharply in January-March quarter
1 year, 8 months ago

US economy slows sharply in January-March quarter

Al Jazeera  

The US economy slowed sharply from January through March, decelerating to just a 1.1 percent annual pace as higher interest rates hammered the housing market and businesses reduced their inventories. “We continue to expect the drag from higher interest rates and tightening credit conditions to push the economy into a mild recession soon.″ Many economists have said the cumulative impact …

US revises down last quarter’s economic growth to 2.7% rate
1 year, 10 months ago

US revises down last quarter’s economic growth to 2.7% rate

Associated Press  

WASHINGTON — The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and elevated inflation, the government said Thursday in a downgrade from its initial estimate. The Commerce Department’s revised estimate of the fourth quarter’s gross domestic product — the economy’s total output of goods and services — marked a …

US economy slowed but still grew at 2.9% rate last quarter
1 year, 11 months ago

US economy slowed but still grew at 2.9% rate last quarter

Associated Press  

WASHINGTON — The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession. “From the Fed’s perspective, a desired slowdown in the economy will be welcome news.” Consumer spending, which fuels about 70% of the entire economy, rose at a …

U.S. economy slowed but still grew at 2.9% rate last quarter
1 year, 11 months ago

U.S. economy slowed but still grew at 2.9% rate last quarter

LA Times  

An employee works in the battery assembly hall at the BMW Spartanburg plant in Greer, S.C., on Oct. 19. The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession. Thursday’s estimate from the Commerce Department showed that the nation’s …

US economy grew 3.2% in Q3, an upgrade from earlier estimate
2 years ago

US economy grew 3.2% in Q3, an upgrade from earlier estimate

Associated Press  

WASHINGTON — Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a healthy upgrade from its earlier estimate of third-quarter growth. Still, many economists expect the economy to slow and probably slip into recession next year under the pressure of higher …

US revises up last quarter’s economic growth to 2.9% rate
2 years, 1 month ago

US revises up last quarter’s economic growth to 2.9% rate

Associated Press  

WASHINGTON — Despite high interest rates and chronic inflation, the U.S. economy grew at a 2.9% annual rate from July through September, the government said Wednesday in a healthy upgrade from its initial estimate. Last quarter’s rise in the U.S. gross domestic product — the economy’s total output of goods and services — followed two straight quarters of contraction. That …

Even as US economic recovery rebounds, demand stalls
2 years, 2 months ago

Even as US economic recovery rebounds, demand stalls

Al Jazeera  

The US economy snapped two straight quarters of GDP decline to grow 2.6 percent, but domestic demand weakened. US economic growth rebounded strongly in the third quarter amid a shrinking trade deficit, but that overstates the economy’s health as domestic demand was the weakest in two years because of the Federal Reserve’s aggressive interest rate hikes. “With the full effect …

China’s GDP growth rebounds at faster pace in Q3, but risks loom
2 years, 2 months ago

China’s GDP growth rebounds at faster pace in Q3, but risks loom

Al Jazeera  

Official data shows that China’s GDP rose 3.9 percent in the July-September quarter year-on-year. Gross domestic product in the world’s second-biggest economy rose 3.9 percent in the July-September quarter year-on-year, official data showed on Monday, above the 3.4 percent pace forecast in a Reuters news agency poll of analysts, and quickening from the 0.4 percent pace in the second quarter. …

US economy drops at 0.6% annual rate from April through June
2 years, 3 months ago

US economy drops at 0.6% annual rate from April through June

Associated Press  

WASHINGTON — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. But the Fed has raised interest rates five times this year — most recently Sept. 21 — to rein in consumer prices, which were up 8.3% …

US economy shrank from April through June, second time in a row
2 years, 3 months ago

US economy shrank from April through June, second time in a row

Al Jazeera  

The United States economy continues to send mixed signals with some believing it is on the brink of a recession while others point to a stronger than usual jobs market. Battered by surging consumer prices and rising interest rates, the United States economy shrank at a 0.6 percent annual rate from April through June, the government has announced, unchanged from …

Government revision shows economy shrank 0.6% last quarter
2 years, 4 months ago

Government revision shows economy shrank 0.6% last quarter

Associated Press  

WASHINGTON — The U.S. economy shrank at a 0.6% annual rate from April through June, the government said Thursday in an upgrade from its initial estimate. Most economists, though, have said they doubt the economy is in or on the verge of a recession, given that America’s job market remains robust, with strong hiring, low unemployment and widespread openings. In …

US economy shrinks for a 2nd quarter, raising recession fear
2 years, 5 months ago

US economy shrinks for a 2nd quarter, raising recession fear

Associated Press  

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. “The fact that the economy created 2.7 million payrolls in the first half of the year would seem to argue against an official recession call for now.” Still, …

US Economy Shrinks 0.9% In June 2022 Quarter, 2nd Straight Drop; Raises Fears Of Recession
2 years, 5 months ago

US Economy Shrinks 0.9% In June 2022 Quarter, 2nd Straight Drop; Raises Fears Of Recession

News 18  

The US economy contracted again in the second quarter amid aggressive monetary policy tightening from the Federal Reserve to combat high inflation, which could fan financial market fears that the economy was already in recession. But the National Bureau of Economic Research, the official arbiter of recessions in the United States defines a recession as “a significant decline in economic …

US economy shrinks for a second quarter, fuelling recession fears
2 years, 5 months ago

US economy shrinks for a second quarter, fuelling recession fears

Al Jazeera  

The fall in US GDP comes on the heels of the Federal Reserve raising interest rates, as Chair Jerome Powell says growth needs to slow. The US economy shrank for a second straight quarter, raising chances of a recession, as decades-high inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied business investment and housing demand. The report illustrates how …

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